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Launched · SEC filings

Direxion Daily S&P 500 High Beta Bear 3X ETF

HIBSNYSE ArcaDirexionFThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$22.67+1.21 (+5.64%)

At close: Nov 2, 2026, 4:00 PM ET

F23/ 100

Rank 12 of 14 in 3x Leveraged Inverse

F23/100Rank 12 of 14in3x Leveraged Inverse
Intraday session: up, 79 prints from 21.46 to 22.67. Range 20.45 to 22.82. Use the arrow keys to read each point.20.5021.0022.0010 AM12 PM2 PM4 PM
Expense ratio
1.06%*
Fund size
$18M
1Y total return
−59.4%
Yield · Last 12 months
6.05%
Holdings
5
Avg volume · 30D
215K sh
52W range
low $15.00high $74.95
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Sep 1, 2027. Without it: 1.11%.

The ETF.net HIBS Grade

Based on 4 of 6 pillars

F

Score 23 out of 100

Category
3x Leveraged Inverse⁠
Rank
12 of 14
Six-pillar profile for HIBS. Scores out of 100: Cost 23, Risk 24, Mission not scored, Tradability 23, Holdings not scored, Durability 23. Strongest: Risk (24). Weakest: Durability (23). Based on 4 of 6 pillars.

Score 23 of 100 falls in the F band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F23 out of 100
    Rank 10 of 14

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F24 out of 100
    Rank 12 of 14

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F23 out of 100
    Rank 14 of 14

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F23 out of 100
    Rank 13 of 14

Our read on HIBS

ETF.net Research

In short

FMost 3x bear funds short an index. HIBS shorts a factor: the S&P 500's 100 most market-sensitive stocks, aiming for -300% of that basket's move for one day, then the math resets.

Stated mandate

The fund seeks daily investment results equal to -300% of the daily performance of the S&P 500® High Beta Index, before fees and expenses. Its objective applies for a single day and is not intended to provide the same multiple over longer periods.

Why people hold it

  • Targets a factor slice, not a sector or headline index: the 100 highest-beta S&P 500 names, weighted by beta and rescreened quarterly. No peer in its 3x bear group tracks it.spglobal.com
  • 1.06% net of a waiver through September 1, 2027 (1.11% gross). That sits near the category median, in the same neighborhood as TZA at 0.99% and SOXS at 1.00%.
  • Trading since 2019, with a bull counterpart on the same high-beta index, so both sides of the trade come from one issuer with one rulebook.direxion.com

Worth knowing

  • The -300% target applies to a single day. Direxion says plainly it is not intended over longer periods; in choppy markets, held returns can diverge widely from -3x.
  • High beta means high sensitivity by construction, so this basket tends to swing harder than the S&P 500 itself before leverage is applied.spglobal.com
  • One of the smaller, less-traded funds in the 3x bear lineup, so spreads and limit orders matter more than with the group's household names.

HIBS Performance

Launched Nov 7, 2019

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.
HIBS$4,057
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. HIBS $4,057. SPY $11,199. Use the arrow keys to read each point.$5,000$10,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for HIBS. Periods over one year show the average yearly return.
PeriodHIBS
Year to date−56.1%
1 month+25.1%
3 months−4.9%
1 year−59.4%
3 yearsper year−65.9%
5 yearsper year−51.7%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for HIBS
YearReturn barHIBS
2026 YTD−56.1%
2025−72.4%

HIBS in the news

HIBS Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
6.05%Last 12 months
Payout per share
$1.30Last 12 months
Last payment
$0.22 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2019–2026

One bar per payment. 11 payments from 2019 to 2026 YTD. Dec 23, 2019 $52.96; Mar 19, 2024 $3.02; Jun 25, 2024 $3.19; Dec 23, 2024 $1.46; Mar 25, 2025 $2.30; Jun 24, 2025 $0.76; Sep 23, 2025 $0.68; Dec 23, 2025 $0.51; Mar 24, 2026 $0.42; Jun 23, 2026 $0.15; Sep 22, 2026 $0.22. Use the arrow keys to read each point.20192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Sep 29, 2026$0.22
Jun 23, 2026Jun 30, 2026$0.15
Mar 24, 2026Mar 31, 2026$0.42
Dec 23, 2025Dec 31, 2025$0.51
Sep 23, 2025Sep 30, 2025$0.68
Jun 24, 2025Jul 1, 2025$0.76
Mar 25, 2025Apr 1, 2025$2.30
Dec 23, 2024Dec 31, 2024$1.46
Sep 24, 2024Oct 1, 2024No data
Jun 25, 2024Jul 2, 2024$3.19
Mar 19, 2024Mar 26, 2024$3.02
Dec 21, 2023Dec 29, 2023No data

See all 18 payments⁠

$10,000 in HIBS 5 years ago paid $162 in dividends.⁠

HIBS Risk

Risk pillarF24 out of 100Rank 12 of 14 in 3x Leveraged Inverse

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
62.6%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−1.40
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−98.8%
Trough Oct 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−3.96
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

HIBS Cost

Compare HIBS and SQQQ

Overpaying vs SQQQ, cheapest in 3x Leveraged Inverse

$1,951

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • HIBS 1.06%

    $19,655

  • SQQQ 0.94% Cheapest

    $17,704

$10,000
30 years

Cost over time

  • HIBS 1.06%
  • SQQQ 0.94%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530HIBS $19,655SQQQ $17,704

Year by year

YearHIBSSQQQOverpaying
10$1,864$1,661$203
20$6,987$6,260$727
30$19,655$17,704$1,951
How the 1.06% is worked out

Full fee 1.11%− waiver 0.05%= you pay 1.06%

The waiver ends Sep 1, 2027. After that the fee is 1.11% unless Direxion renews it. Source: prospectus, Mar 2026.

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